2Q2013earningsCall8 8

Second Quarter 2013

Earnings Conference Call August 8, 2013

1

Safe Harbor Statement

Foster Wheeler AG presentations may contain forward-looking statements that are based on management’s assumptions, expectations and projections about the Company and the various industries within which the Company operates. These include statements regarding the Company’s expectations about revenues (including as expressed by its backlog), its liquidity, the outcome of litigation and legal proceedings and recoveries from customers for claims and the costs of current and future asbestos claims and the amount and timing of related insurance recoveries. Such forward-looking statements by their nature involve a degree of risk and uncertainty. The Company cautions that a variety of factors, including but not limited to the factors described in the Company’s most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q for the quarter ended March 31, 2013, which were filed with the U.S. Securities and Exchange Commission, and the following, could cause the Company’s business conditions and results to differ materially from what is contained in forward-looking statements: benefits, effects or results of the Company’s redomestication to Switzerland; the benefits, effects or results of the Company’s strategic renewal initiative; further deterioration in global economic conditions; changes in investment by the oil and gas, oil refining, chemical/petrochemical and power generation industries; changes in the financial condition of the Company’s customers; changes in regulatory environments; changes in project design or schedules; contract cancellations; changes in estimates made by the Company of costs to complete projects; changes in trade, monetary and fiscal policies worldwide; compliance with laws and regulations relating to its global operations; currency fluctuations; war, terrorist attacks and/or natural disasters affecting facilities either owned by the Company or where equipment or services are or may be provided by the Company; interruptions to shipping lanes or other methods of transit; outcomes of pending and future litigation, including litigation regarding the Company’s liability for damages and insurance coverage for asbestos exposure; protection and validity of the Company’s patents and other intellectual property rights; increasing global competition; compliance with its debt covenants; recoverability of claims against the Company’s customers and others by the Company and claims by third parties against the Company; and changes in estimates used in its critical accounting policies. Other factors and assumptions not identified above were also involved in the formation of these forward-looking statements and the failure of such other assumptions to be realized, as well as other factors, may also cause actual results to differ materially from those projected. Most of these factors are difficult to predict accurately and are generally beyond the Company’s control. You should consider the areas of risk described above in connection with any forward-looking statements that may be made by the Company. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. You are advised, however, to consult any additional disclosures the Company makes in proxy statements, quarterly reports on Form 10-Q, annual reports on Form 10-K and current reports on Form 8-K filed or furnished with the Securities and Exchange Commission.

2

Q2 2013 Overview

• Adjusted income from continuing operations was $54.6 million, or $0.54 per diluted share,* sharply above average quarter of 2012

• Strong performance by Global E&C Group • Quarterly scope revenues of $443 million, 12% above the

average quarter of 2012

• EBITDA of $62 million, 29% above the average quarter of 2012

• Robust level of new orders -- $537 million in scope revenue value

• Investment of approximately $116 million to repurchase approximately 5.1 million shares

*Adjusted to exclude net asbestos-related gains and provisions. All references to net income, EBITDA and earnings per share in this presentation refer to “Income from continuing operations attributable to Foster Wheeler AG”, “EBITDA from continuing operations” and “Diluted earnings per share from continuing operations attributable to Foster Wheeler AG.”, respectively. See appendices for reconciliation of adjusted and reported net income to “Net income attributable to Foster Wheeler AG” and adjusted and reported earnings per share to “Diluted earnings per share attributable to Foster Wheeler AG” as reported in our consolidated financial statements and a reconciliation of EBITDA to “Net income attributable to Foster Wheeler AG.”

3

Q2 2013: Basis of Presentation

Effective Q2 2013, our results of operations reflect continuing operations and

discontinued operations, due to our plan to sell a non-strategic asset

Discontinued operations are immaterial to

our expected 2013 results and, therefore, all amounts in this presentation refer to

continuing operations

Please see Appendices for additional details

4

Millions

*Excludes discontinued operations. Adjusted to exclude net asbestos-related gains and provisions. See appendices for reconciliation of adjusted and reported net income and earnings per share, reconciliation of EBITDA to net income, as well as a reconciliation of FW scope revenues to operating revenues. FW scope excludes flow-through costs.

Adjusted Income

Q2 2013: Consolidated Financial Performance*

• Adjusted income was $54.6 million, or $0.54 per diluted share

• Adjusted income was up 22% versus the average quarter of 2012, aided by:

• Performance of the Global E&C Group: higher scope revenues, EBITDA and EBITDA margin

• Lower effective tax rate aided by discrete tax items (16.1% versus 27.6%)

• Q2 also included $2.2 million after-tax benefit from partial reversal of Q1 2013 mark-to-market currency losses

• Scope revenues were comparable with the average quarter of 2012

• Higher revenues in Global E&C Group were offset by lower revenues in Global Power Group

$0

$10

$20

$30

$40

$50

$60

Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13

43 34 61

41

19

55

$637 quarterly average for 2012

$0

$100

$200

$300

$400

$500

$600

$700

Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13

620 685

598 646 624 642

Consolidated Scope Revenues

Millions

$45 quarterly average for 2012 $37 quarterly average for 2013


Global E&C Group: Q2 2013 Performance

• EBITDA was $62.1 million on scope revenues of $443.4 million

• EBITDA was 29% above the average quarter of 2012, reflecting, in addition to contribution from recently completed acquisitions:

• Improvement in utilization rate

• Increased profit enhancement opportunities

• Higher equity earnings from partially owned power assets in Italy

• EBITDA also included $2.3 million pretax benefit from partial reversal of Q1 2013 mark-to-market currency losses

• Scope revenues were 12% above the average quarter of 2012 due to higher volume of work executed

• EBITDA margin on scope revenues was 14.0% for Q2, compared with 12.1% for the average quarter of 2012

Millions

EBITDA

See appendices for reconciliation of EBITDA to net income and FW scope revenues to operating revenues. FW scope excludes flow-through costs.

$0

$10

$20

$30

$40

$50

$60

Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13

47 40 52

53

35

62


$0

$150

$300

$450

Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13

365 417 380 424 425 443

Millions

Scope Revenues


5



Global Power Group: Q2 2013 Performance*

• EBITDA and scope revenues were $45.6 million and $198.9 million, respectively

• EBITDA was below the average quarter of 2012 despite solid operating performance

• Lower contribution from profit enhancements and reduced volumes were partly offset by $6 million of incremental equity income from partially owned Chilean power plant

• Scope revenues were below the average quarter of 2012, reflecting the lagging impact of weak order levels in 2012 and the first half of 2013

• EBITDA margin on scope revenues was 22.9%, aided by higher equity income as well as profit enhancements – both of which occurred during a low-revenue quarter

Millions

*Excludes discontinued operations. See appendices for reconciliation of EBITDA to net income and FW scope revenues to operating revenues. FW scope excludes flow-through costs.

$0

$25

$50

$75

Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13

52 42 64

46

25 46


$0

$100

$200

$300

Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13

255 268

217 222

199 199

Millions

Scope Revenues


6



EBITDA

7

Cash Position

*Includes total cash, cash-equivalents, restricted cash and short-term investments.

Millions

$0

$400

$800

Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13

687

802 787

645 520

464

• Invested $25 million for two acquisitions -- E&C companies in Mexico and the UK

• Recent share repurchase activity

• Q1 2013: $34 million for 1.5 million shares

• Q2 2013: $116 million for 5.1 million shares

• $270 million remaining under existing share repurchase authorization as of June 30, 2013

Total Cash Position*

8

Millions

$0

$200

$400

$600

$800

$1,000

Q1 2012 Q2 2012 Q3 2012 4Q 2012 Q1 2013 Q2 2013

371 392

769 866

336 537


FW scope excludes flow-through costs.

Global E&C Group: Scope New Orders

Q2 2013: Robust Orders, 60% Above Q1 2013


9

Global E&C Group: Key New Orders in Q2

• Initial release for EPC contract on the Enterprise PDH project in the U.S.

• Partial release on EPCm contract for Dow Chemical ethane cracker upgrade project in the U.S.

• PMC contract for the grassroots Nghi Son Refinery and Petrochemical Complex in Vietnam

• Engineering and procurement for a refinery upgrade project in the Middle East

• FEED contracts for expansion of oil and gas processing facilities in the Middle East

• Additional work scope for an existing PMC contract in the Middle East

• PMC contract for the Cardon IV upstream/offshore project in South America/Gulf of Venezuela

• Initial detailed design work on a residue upgrading project in South America

• Design and supply of a delayed coker heater for a refinery in the former Soviet Union

10

Global E&C Group: Backlog in FW Scope

$0

$500

$1,000

$1,500

$2,000

$2,500

Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013

1,397 1,304

1,707 2,197 2,034

2,090

Millions

The foreign currency translation impact on scope backlog resulted in a decrease of $92.8 million as of June 30, 2013 compared to December 31, 2012. FW scope excludes flow-through costs.

Q2 2013 Backlog Remained at a Near-Record Level

11

Global E&C Group: Market Environment

• Little change in market fundamentals over the past several months: • Competitive environment remains challenging, with commercially

aggressive bidding as the norm • Continued slippage in bid invitations and contract award dates

• However, our prospects pipeline is very robust and includes a number of projects for which we have already received early work releases

• We are seeing a strong increase in activity in North America, particularly in chemicals, where we are winning contracts and where further opportunities are developing

• Asia, South America and Europe also continue to present good opportunities

12

Global Power Group: New Orders in FW Scope

Millions


$0

$100

$200

Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013

159

114

184

122

196

89


Q2 2013 Consisted of a Limited Notice to Proceed for Large Boiler Project and Orders for Service Work


13

Global Power Group: New Orders

• Q2 2013: new orders were light but included a limited notice to proceed (LNTP) on two 300-megawatt CFB boilers for a project in Southeast Asia

• 2H 2013: three high-profile prospects • Two 300-megawatt pulverized coal boilers in Southeast Asia

• 50-megawatt CFB in Eastern Europe, for which we received LNTP in July 2013

• 20-megawatt CFB in Korea, for which we received LNTP in July 2013

14

Global Power Group: Backlog in FW Scope

Millions

$0

$400

$800

$1,200

Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013

1,130

937 908

754 731

616


Q2 2013 Backlog Reflected the Light Booking Quarter

15

Global Power Group: Market Environment

• Little change in market fundamentals over the past several months:

• Power generation markets remain weak globally, reflecting lackluster GDP figures in many parts of the world

• Asia/Southeast Asian countries offer the largest number of prospects

• Middle East expected to offer opportunities for our CFB boiler technology in the mid to longer term as electricity producers consider switching from fuel oil to petroleum coke

• Our 2014 prospect list is materially larger than our 2013 prospect list – although actual timing of awards remains sensitive to GDP trends

• We remain the leader in solid fuel flexibility, and our CFB technology is making steady inroads in the large utility boiler market

16

2013 Guidance*

• We are raising full-year 2013 earnings guidance • We now expect 2013 results to be moderately above $1.54, due in part to

strong Q2 2013 performance

• Previous guidance was that 2013 results were expected to be flat to moderately below $1.54

• Global E&C Group – EBITDA margin on scope revenues expected to be in the range of 10%-12% for full year 2013 on a material increase in sequential-year scope revenues

• EBITDA from E&C Group now expected to be more favorable than previously forecast

• EBITDA margin for full-year 2013 could be near or above the high end of the range

• Global Power Group – EBITDA margin on scope revenues now expected to be in the range of 17%-19% for full year 2013 on material decline in sequential-year scope revenues from continuing operations

• Guidance reflects higher margins on reduced scope revenues, with a resulting modest increase in the company’s expectation for Global Power Group EBITDA in 2013

*Based on continuing operations. See appendices for reconciliation of adjusted and reported earnings per share.

Appendices

18

Appendix 1: Discontinued Operations

• During the quarter, our Board of Directors approved a plan to sell a non-strategic asset, a wholly owned waste-to-energy power plant in Camden, NJ (previously reported as part of our Global Power Group), which is now classified as a discontinued operation

• Accordingly, effective Q2 2013, we are reporting financial results for continuing and discontinued operations, although discontinued operations are immaterial to our expected 2013 results • No material gain/loss expected in future periods, based on Q2 2013

net book value of business held for sale of $43.4 million, reflecting previously reported impairment charges of $11.5 million in Q4 2012 and $3.9 million in Q1 2013

• No material impact on our 2013 earnings guidance

• 2012 revenue and EBITDA contribution from Camden was immaterial to Foster Wheeler’s consolidated financial results: • $23 million scope revenue and $3.1 million of EBITDA

19

Appendix 2: 2012 Reconciliation of FW Scope Revenues to Operating Revenues

______________ * To calculate the quarterly average dollar amounts, the company divided reported annual amounts by four. NOTE: FW Scope revenues and operating revenues balances above represent balances from continuing operations.

Year Ended

(in thousands of dollars)March 31,

2012June 30,

2012September 30,

2012December 31,

2012December 31,

2012

Global E&C Group:

FW Scope revenues 365,016$ 416,830$ 380,482$ 423,870$ 1,586,198$ 396,550$

Flow-through revenues 305,857 249,312 197,590 80,370 833,129

Operating revenues 670,873$ 666,142$ 578,072$ 504,240$ 2,419,327$

Global Power Group:

FW Scope revenues 254,460$ 268,432$ 217,004$ 222,351$ 962,247$ 240,562$


Operating revenues 256,717$ 270,320$ 219,224$ 225,806$ 972,067$

Consolidated:

FW Scope revenues 619,476$ 685,262$ 597,486$ 646,221$ 2,548,445$ 637,111$


Operating revenues 927,590$ 936,462$ 797,296$ 730,046$ 3,391,394$

Quarter Ended 2012Quarterly Average *

20

______________ * To calculate the quarterly average dollar amounts, the company divided reported six-months amounts by two. NOTE: FW Scope revenues and operating revenues balances above represent balances from continuing operations.

Appendix 3: 2013 Reconciliation of FW Scope Revenues to Operating Revenues

Six Months Ended


2013June 30,

2013June 30,

2013

Global E&C Group:

FW Scope revenues 424,754$ 443,488$ 868,242$ 434,121$

Flow-through revenues 163,220 219,231 382,451

Operating revenues 587,974$ 662,719$ 1,250,693$

Global Power Group:

FW Scope revenues 199,271$ 198,885$ 398,156$ 199,078$


Operating revenues 202,170$ 200,688$ 402,858$

Consolidated:

FW Scope revenues 624,025$ 642,373$ 1,266,398$ 633,199$


Operating revenues 790,144$ 863,407$ 1,653,551$

Quarter Ended YTD 2013Quarterly Average *

21

Net Income All references to net income in this presentation refer to “Net income attributable to Foster Wheeler AG” as reported in our consolidated financial statements.

Adjusted Net Income and Adjusted Earnings per Share The company believes that adjusted net income and adjusted earnings per share are important measures of performance because such adjusted figures exclude the variable impact of periodic asbestos-related gains and provisions. The company believes that the line item on its consolidated statement of operations entitled "net income attributable to Foster Wheeler AG" and “diluted earnings per share” are the most directly comparable GAAP financial measures to adjusted net income and adjusted earnings per share.

Calculation of EBITDA • EBITDA is a supplemental financial measure not defined in generally accepted accounting principles, or GAAP. The company defines EBITDA as

income attributable to Foster Wheeler AG before interest expense, income taxes and depreciation and amortization. The company has presented EBITDA because it believes it is an important supplemental measure of operating performance. Certain covenants under the company’s senior unsecured credit agreement use EBITDA, as defined in such agreement, in the covenant calculations which is different than the EBITDA as presented herein . The company believes that the line item on its consolidated statement of operations entitled "net income attributable to Foster Wheeler AG" is the most directly comparable GAAP financial measure to EBITDA. Since EBITDA is not a measure of performance calculated in accordance with GAAP, it should not be considered in isolation of, or as a substitute for, net income attributable to Foster Wheeler AG as an indicator of operating performance or any other GAAP financial measure.

• EBITDA, as calculated by the company, may not be comparable to similarly titled measures employed by other companies. In addition, this measure does not necessarily represent funds available for discretionary use, and is not necessarily a measure of the company's ability to fund its cash needs. As EBITDA excludes certain financial information that is included in net income attributable to Foster Wheeler AG, users of this financial information should consider the type of events and transactions that are excluded.

• The company's non-GAAP performance measure, EBITDA, has certain material limitations as follows: o It does not include interest expense. Because the company has borrowed money to finance some of its operations, interest is a necessary and ongoing part of its costs and has assisted the company in generating revenue. Therefore, any measure that excludes interest expense has material limitations; o It does not include taxes. Because the payment of taxes is a necessary and ongoing part of the company's operations, any measure that excludes taxes has material limitations; and o It does not include depreciation and amortization. Because the company must utilize property, plant and equipment and intangible assets in order to generate revenues in its operations, depreciation and amortization are necessary and ongoing costs of its operations. Therefore, any measure that excludes depreciation and amortization has material limitations.

Calculation of EBITDA Margin Segment EBITDA margin is calculated by dividing business unit operating revenues in Foster Wheeler Scope into business unit EBITDA.

Appendix 4: Definitions

22

Appendix 5: 2012 EBITDA to Net Income Reconciliation

_______________

*C&F Group includes general corporate income and expense, the company’s captive insurance operation and the elimination of transactions and balances related to intercompany interest. NOTE: EBITDA balances above represent balances from continuing operations.

(in thousands of dollars)

Global E&C Group 46,928$ 39,917$ 51,964$ 53,399$ 192,208$

Global Power Group 51,941 42,198 64,396 46,223 204,758

Total operating EBITDA (1) 98,869 82,115 116,360 99,622 396,966

C&F Group * (27,278) (23,592) (25,528) (45,055) (121,453)

EBITDA from continuing operations (1) 71,591 58,523 90,832 54,567 275,513 Less: Interest expense 3,416 4,249 3,197 2,935 13,797 Less: Depreciation & amortization 11,801 11,562 12,178 14,693 50,234 Less: Provision for income taxes 14,884 12,291 16,790 18,302 62,267 Income from continuing operations 41,490 30,421 58,667 18,637 149,215 (Loss)/income from discontinued operations (2) (844) 438 (445) (12,342) (13,193)

Net income 40,646$ 30,859$ 58,222$ 6,295$ 136,022$ (1) The EBITDA includes the following:

Net increase/(decrease) in contract profit from regular revaluation of final estimated contract profit revisions:

Global E&C Group 3,800$ (2,800)$ 7,000$ (1,600)$ 7,700$ Global Power Group 10,300 11,000 15,700 14,900 58,300 Total increase in contract profit 14,100$ 8,200$ 22,700$ 13,300$ 66,000$

Net asbestos-related provisions:Global E&C Group -$ 1,700$ -$ 700$ 2,400$ C&F Group 2,000 2,000 2,000 22,100 28,100 Total net asbestos-related provision 2,000$ 3,700$ 2,000$ 22,800$ 30,500$

Charges for severance-related postemployment benefits:Global E&C Group 800$ 2,300$ Global Power Group 900 3,700 C&F Group 300 200

Total severance 2,000$ 6,200$ (2) Included an impairment charge related to Camden, New Jersey waste-to-energy facility. 11,500$ 11,500$

March 31, 2012

December 31, 2012

June 30, 2012

Quarter Ended Year EndedDecember 31,

2012September 30,

2012

23

Appendix 6: 2013 EBITDA to Net Income Reconciliation

_______________

*C&F Group includes general corporate income and expense, the company’s captive insurance operation and the elimination of transactions and balances related to intercompany interest. Note: EBITDA balances above represent balances from continuing operations.


2013June 30,

2013June 30,

2013

Global E&C Group 35,188$ 62,133$ 97,321$

Global Power Group 24,687 45,584 70,271

Total operating EBITDA (1) 59,875 107,717 167,592

C&F Group * (19,797) (8,712) (28,509)

EBITDA from continuing operations (1) 40,078 99,005 139,083 Less: Interest expense 2,672 3,916 6,588 Less: Depreciation & amortization 15,342 13,454 28,796 Less: Provision for income taxes 5,160 13,319 18,479 Income from continuing operations 16,904 68,316 85,220 (Loss)/income from discontinued operations (2) (3,878) 2,383 (1,495) Net income 13,026$ 70,699$ 83,725$ (1) The EBITDA includes the following:

Net increase in contract profit from regular revaluation of final estimated contract profit revisions:

Global E&C Group 10,500$ 5,400$ 22,000$ Global Power Group 8,500 11,100 19,500 Total increase in contract profit 19,000$ 16,500$ 41,500$

Net asbestos-related provision/(gain) in C&F Group 2,000$ (13,800)$ (11,800)$

Charges for severance-related postemployment benefits:Global E&C Group 1,200$ 1,700$ 2,900$ Global Power Group 400 700 1,100 C&F Group 400 - 400

Total severance 2,000$ 2,400$ 4,400$ (2) Included an impairment charge related to Camden, New Jersey waste-to-energy facility. 3,900$ -$ 3,900$

Quarter Ended Six Months Ended

24

Appendix 7: Net Income and Diluted EPS Reconciliation (in thousands of dollars, except EPS amounts)

2012 Q1 Q2 Q3 Q4 FY 2012Quarterly Averages

Amounts attributable to Foster Wheeler AG:

Income from continuing operations 41,490$ 30,421$ 58,667$ 18,637$ 149,215$ 37,304$

Loss/income from discontinued operations (844) 438 (445) (12,342) (13,193)

Net Income 40,646$ 30,859$ 58,222$ 6,295$ 136,022$

Diluted earnings per share attributable to Foster Wheeler AG:

Income from continuing operations 0.38$ 0.29$ 0.55$ 0.18$ 1.39$ 0.35$

Loss/income from discontinued operations - - (0.01) (0.12) (0.12)

Net Income 0.38$ 0.29$ 0.54$ 0.06$ 1.27$

2013 Q1 Q2 YTD 2013

Amounts attributable to Foster Wheeler AG:

Income from continuing operations 16,904$ 68,316$ 85,220$ 42,610$

Loss/income from discontinued operations (3,878) 2,383 (1,495)

Net Income 13,026$ 70,699$ 83,725$

Diluted earnings per share attributable to Foster Wheeler AG:

Income from continuing operations 0.16$ 0.68$ 0.83$ 0.42$

Loss/income from discontinued operations (0.04) 0.03 (0.01)

Net Income 0.12$ 0.71$ 0.82$

25

Appendix 8: 2012 EBITDA, Net Income and Diluted EPS Reconciliation

______________ * To calculate the quarterly average dollar amounts, the company divided reported annual figures by four.

(in thousands of dollars, except EPS amounts)

EBITDANet

IncomeDiluted

EPS EBITDANet

IncomeDiluted

EPS EBITDANet

IncomeDiluted

EPS

As adjusted 73,588$ 43,487$ 0.40$ 62,236$ 33,697$ 0.32$ 92,832$ 60,667$ 0.57$

Adjustments:

Net asbestos-related provision (1,997) (1,997) (0.02) (3,713) (3,276) (0.03) (2,000) (2,000) (0.02)

As reported from continuing operations 71,591$ 41,490$ 0.38$ 58,523$ 30,421$ 0.29$ 90,832$ 58,667$ 0.55$

As reported from discontinued operations (844) - 438 - (445) (0.01)

As reported 40,646$ 0.38$ 30,859$ 0.29$ 58,222$ 0.54$


EBITDANet

IncomeDiluted

EPS EBITDANet

IncomeDiluted

EPS EBITDANet

IncomeDiluted

EPS

As adjusted 77,362$ 41,286$ 0.39$ 306,018$ 179,137$ 1.66$ 76,505$ 44,784$ 0.42$

Adjustments:

Net asbestos-related provision (22,795) (22,649) (0.21) (30,505) (29,922) (0.27) (7,627) (7,480) (0.07)

As reported from continuing operations 54,567$ 18,637$ 0.18$ 275,513$ 149,215$ 1.39$ 68,878$ 37,304$ 0.35$

As reported from discontinued operations (12,342) (0.12) (13,193) (0.12) (3,298) (0.03)

As reported 6,295$ 0.06$ 136,022$ 1.27$ 34,006$ 0.32$

Quarter EndedSeptember 30, 2012

Quarter Ended March 31, 2012

Year Ended December 31, 2012

Quarterly Averagefor the Twelve Months Ended

December 31, 2012 *

Quarter EndedJune 30, 2012

Quarter Ended December 31, 2012

26

Appendix 9: 2013 EBITDA, Net Income and Diluted EPS Reconciliation


EBITDANet

IncomeDiluted

EPS EBITDANet

IncomeDiluted

EPS

As adjusted 42,078$ 18,904$ 0.14$ 85,255$ 54,566$ 0.54$ Adjustments:

Net asbestos-related (provision)/gain (2,000) (2,000) (0.02) 13,750 13,750 0.14

As reported from continuing operations 40,078$ 16,904$ 0.16$ 99,005$ 68,316$ 0.68$

As reported from discontinued operations (3,878) (0.04) 2,383 0.03

As reported 13,026$ 0.12$ 70,699$ 0.71$


EBITDANet

IncomeDiluted

EPS EBITDANet

IncomeDiluted

EPS

As adjusted 127,333$ 73,470$ 0.72$ 63,667$ 36,735$ 0.36$

Adjustments:

Net asbestos-related gain 11,750 11,750 0.11 5,875 5,875 0.06

As reported from continuing operations 139,083$ 85,220$ 0.83$ 69,542$ 42,610$ 0.42$

As reported from discontinued operations (1,495) (0.01) (748) (0.01)

As reported 83,725$ 0.82$ 41,863$ 0.41$

Quarter EndedMarch 31, 2013

Quarter EndedJune 30, 2013

Six Months EndedJune 30, 2013

Quarterly Averagefor the Six Months Ended

June 30, 2013 *

_______________ * To calculate the quarterly average dollar amounts, the company divided reported six-months figures by two.

27

Appendix 10: Quarterly Averages – Global E&C Group

_______________ (1) To calculate the 2012 quarterly average dollar amounts, the company divided reported annual amounts by four. (2) To calculate the 2013 quarterly average dollar amounts, the company divided reported six-months amounts by two. (3) Mark-to-market losses on currency transactions.

(in thousands of dollars)New Orders

in FW Scope

Operating Revenues

in FW Scope EBITDAEBITDA Margin

Impact of Foreign Exchange

Transaction Losses/(Gains) (3)

EBITDA Excluding Foreign Exchange Transaction Losses

Adjusted EBITDAMargin

Q1 2012 371,000$ 365,016$ 46,928$ 12.9% -$ 46,928$ 12.9%

Q2 2012 391,500 416,830 39,917 9.6% - 39,917 9.6%

Q3 2012 768,600 380,482 51,964 13.7% - 51,964 13.7%

Q4 2012 866,500 423,870 53,399 12.6% - 53,399 12.6%

FY 2012 2,397,600 1,586,198 192,208 12.1% - 192,208 12.1%

2012 Quarterly Average (1) 599,400$ 396,550$ 48,052$ 12.1% -$ 48,052$ 12.1%

Q1 2013 335,500$ 424,754$ 35,188$ 8.3% 10,505$ 45,693$ 10.8%

Q2 2013 537,000 443,488 62,133 14.0% (2,335) 59,798 13.5%

YTD June 2013 872,500 868,242 97,321 11.2% 8,170 105,491 12.1%

2013 Quarterlly Average (2) 436,250$ 434,121$ 48,661$ 11.2% 4,085$ 52,746$ 12.1%

28

Appendix 11: Quarterly Averages – Global Power Group

_______________ (1) To calculate the 2012 quarterly average dollar amounts, the company divided reported annual amounts by four. (2) To calculate the 2013 quarterly average dollar amounts, the company divided reported six-months amounts by two. (3) Operating revenues and EBITDA balances above represent balances from continuing operations. (4) New order booked balances above include balances for discontinued operations, which were insignificant on our

consolidated and business group balances.

(in thousands of dollars)New Orders

in FW Scope (4)

Operating Revenues

in FW Scope (3) EBITDA (3)EBITDA Margin

Q1 2012 159,400$ 254,460$ 51,941$ 20.4%

Q2 2012 114,300 268,432 42,198 15.7%

Q3 2012 183,800 217,004 64,396 29.7%

Q4 2012 121,500 222,351 46,223 20.8%

FY 2012 579,000 962,247 204,758 21.3%

2012 Quarterly Average (1) 144,750$ 240,562$ 51,190$ 21.3%

Q1 2013 196,100$ 199,271$ 24,687$ 12.4%

Q2 2013 88,600$ 198,885$ 45,584$ 22.9%

YTD June 2013 284,700 398,156 70,271 17.6%

2013 Quarterlly Average (2) 142,350$ 199,078$ 35,136$ 17.6%

29

Appendix 12: Global E&C Group Scope Backlog Profile: Q2 2013

74%

26%

Contract Type

Reimbursable Fixed-price

30%

23% 22%

12%

11% 2%

Project Location

Middle East S. America

Asia Pacific Europe

N. America Africa/Other

62% 20%

13% 5%

Industry

Oil Refining Chem/Petrochem

Oil and gas Other

FW Scope excludes flow-through costs.

30

Appendix 13: Global Power Group Scope Backlog Profile: Q2 2013

93%

4% 3%

Contract Type

Fixed-price Design & SupplyLSTKReimbursable

62% 19%

14% 5%

Project Location

Asia Pacific Europe

N. America Other

91%

9%

Industry

Power Generation

Operation & Maintenance

FW Scope excludes flow-through costs. Backlog balances above include balances for discontinued operations, which were insignificant on our consolidated and business group balances .

32

Appendix 15: 2012 EBITDA, Net Income* and Diluted Earnings Per Share Reconciliation

Diluted

Earnings(in thousands of dollars , except EPS Amounts) EBITDA Net Income* Per Share

As adjusted from continuing operations 306,018$ 179,137$ 1.66$

Discontinued Operations excluding below Q4 2012 impairment charge (1) 3,104 (1,738) (0.01)

Previously disclosed excluding asbestos provision and impairment charge 309,122$ 177,399$ 1.65$

Q4 2012 Impariment charge related to discontinued operations (1)(2) - (11,455) (0.11)

Previously disclosed as adjusted (excludes asbestos) 309,122$ 165,944$ 1.54$

Adjustments:

Net asbestos-related provision (30,505) (29,922) (0.27) As reported in Form 10-K 278,617$ 136,022$ 1.27$ ____________________*Net income from continuing operations attributable to Foster Wheeler AG.

(1) Reconciliation for Loss from discontinued operations and diluted earnings per share:Loss from Diluted

Discontinued EarningsOperations Per Share

Discontinued Operations excluding below Q4 2012 impairment charge (1,738)$ (0.01)$ Q4 2012 Impariment charge related to discontinued operations (11,455) (0.11)

Loss from discontinued operations and diluted earnings per share (13,193)$ (0.12)$

(2) The non-cash impairment charge of $11,455, or $0.11 per share, impacted net income and earnings per share -- but not EBITDA -- because it w as booked as an increase in depreciation and amortization.

Twelve Months Ended December 31, 2012

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